The Businessinsider writes: For the first time since the Great Recession, the economy is showing some signs of being on a "sustainable" recovery path. And the timing is pretty great for Obama, if the momentum can continue through the year -- a big if.
But it's hard to argue with the fact that through the first couple years of the administration, job creation was achingly slow, even as GDP bounded back nicely from the '08-'09 depths.
A new article from Noam Scheiber at TNR -- adapted from a forthcoming book of his -- sheds new light on the fumbling, dysfunctional economic team that Obama had in place during the first two years. It's a depressing read.
Probably the saddest part is how quickly the administration pivoted to deficits, rather than stimulus.
The article tells how in the summer of 2009, after the first stimulus, Larry Summers and Peter Orszag still had wildly different views on stimulus and deficits. Orszag reportedly wanted deficit cuts; Summers recognized that the economy needed new stimulus.
In the end...
Go to http://www.businessinsider.com/now-we-know-why-obamas-economic-team-did-such-a-horrible-job-saving-the-economy-2012-2
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